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The Second Circuit on Monday reversed a decision that allowed bondholders seeking to collect debt from Argentina to go after the country’s central bank, finding that the bondholders failed to show that the bank is the country’s alter ego. (Credit: U.S. Courts)

2nd Circ. Solidifies Argentina Bank’s Creditor Shield

By blocking an attempt by creditors to pin Argentina's failure to pay billions in defaulted debt and judgments on the country's central bank, the Second Circuit on Monday reaffirmed the high hurdle facing bondholders arguing that foreign financial institutions are merely extensions of their government.

  • Chicago Hits Redflex With $300M Suit For Bribery Scheme

    Redflex Traffic Systems Inc. is under fire in Chicago once again as the city has revealed that it will intervene in a recently unsealed whistleblower complaint accusing the red light camera manufacturer of bribing a former city official for millions of dollars' worth of contracts.

  • High Court Lets Ex-Va. Gov. Stay Free Amid Bribery Appeal

    The U.S. Supreme Court said Monday it would allow former Virginia Gov. Bob McDonnell to remain free while it mulls whether to review his bribery conviction and two-year prison sentence.

  • Air Cargo MDL Holdouts' Bids To Dodge Trial Don't Fly

    A Brooklyn federal judge on Monday rejected summary judgment bids by Polar Air Cargo Inc., Air China Ltd., Air India Ltd. and Air New Zealand Ltd., four holdout defendants in multidistrict litigation accusing carriers of a fixing global air cargo fuel and security surcharges, setting a trial to begin in January.

  • Deflategate Ruling Looms After Settlement Talks Fail

    A New York federal judge said Monday he plans to issue a ruling in a matter of days in the Deflategate dispute between New England Patriots quarterback Tom Brady and the NFL, after the parties again failed to reach a settlement.

  • Argentine Central Bank Escapes Bondholder Suit At 2nd Circ.

    The Second Circuit on Monday reversed a decision that allowed bondholders seeking to collect debt from Argentina to go after the country’s central bank, finding that the bondholders failed to show that the bank is the country’s alter ego.

  • ITC Won’t Block Nokia Phone Imports In InterDigital IP Row

    The U.S. International Trade Commission determined on Friday that Microsoft Corp. and Nokia Corp. hadn’t infringed two of InterDigital Communications Inc.'s smartphone network connection patents and refused to block Nokia handsets from import and sale in the U.S.

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